Moment Closes $22 Million Series A to Expand Enterprise Payments Across Africa, Bringing Total Raised to $55 Million
Moment Closes $22 Million Series A to Expand Enterprise Payments Across Africa, Bringing Total Raised to $55 Million #
Pan-African payments platform Moment has closed a $22 million Series A funding round, bringing its total capital raised to $55 million. The company said it will use the proceeds to expand its enterprise billing and collections infrastructure across Africa.
AlphaCode Venture Partners led the round, with returning investors General Catalyst and MultiChoice Group also participating. Canal+, the French media company that acquired MultiChoice (Moment’s founding corporate partner) earlier this year, invested directly in Moment for the first time. Thomas Follin, Canal+’s Chief Diversification Officer, said the investment followed due diligence conducted after the MultiChoice acquisition. According to the company’s announcement, Follin said Moment had “driven down cost and improved quality simultaneously” in delivering enterprise-grade subscription and billing technology for African markets.
Financial services group Sanlam also participated as a strategic partner. Giulio di Giannatale, Technical Lead at Sanlam, cited plans to embed insurance products into Moment’s payment flows and develop data-driven collection tools, describing Moment as “a genuine innovation partner.”
Moment was founded in partnership with MultiChoice, General Catalyst, and payments infrastructure provider Rapyd to consolidate MultiChoice’s payment operations for DStv, GOtv, and Showmax into a single API-driven platform. The company has since expanded to serve other enterprise clients, offering billing, digital payment collection, and revenue retention services across African markets.
The company’s announcement noted that more than two-thirds of retail transactions in South Africa still take place at physical point-of-sale locations, despite the country’s comparatively high banking penetration.
Series A proceeds will go toward expanding Moment’s cross-border settlement network, improving platform reliability, and entering new African markets. The company said it aims to help businesses collect payments faster and at lower cost.
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